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Dec 27, 2017
12/17
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or from an llc, you could get the benefits from the funds, investment from mutual funds. >> one of the big things they are considering, at apollo that a structured at a partnership and publicly traded, it means that investors in that, stockholders of apollo get a k-1 form at tax time, more obligated and firms send them out at different times and oftentimes stockholders are waiting to file their taxes and do not know when they will get the k-1 form. it is a bit complicated and it means a lot of asset managers who run mutual funds are in a lot of 401(k) plans have foregone investing in that, and including that -- then in indexes because of the tax implicitly and if they shifted to a corporation, that may enable them to easily include in an index and have more access to shareholders 401(k), mutual funds. shery: private equity firms would win from this tax bill and their management fees would be taxed at a lower rate. >> that is right, two big wins for businesses, whether a pass, an additional 20% reduction, if you are a corporation, the tax rate is dropping from 35% to 21% at the top rate
or from an llc, you could get the benefits from the funds, investment from mutual funds. >> one of the big things they are considering, at apollo that a structured at a partnership and publicly traded, it means that investors in that, stockholders of apollo get a k-1 form at tax time, more obligated and firms send them out at different times and oftentimes stockholders are waiting to file their taxes and do not know when they will get the k-1 form. it is a bit complicated and it means a...
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Dec 18, 2017
12/17
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the point is that the pass-through to the llc's is very important and that has a very real impact. you don't want to hit the real estate markets. treatment whether it is for real estate or other kinds of llcs is a significant text or component of the structure cash tax structure -- tax structure. shery: who do you think will get paired up with jay powell as vice-chairman? sassan: that is a good question. we have not written on this yet, so i cannot get in front of our clients. i will be happy to share some of the directionality that we have as far as some of the people we believe are in the running for the position. world andm the policy academia. another is from a large asset management firm. may be leaning a little bit toward the dovish side. another one, looking at some of the district bank presidents. -- it is goingrs to be somebody more middle-of-the-road, we believe. shery: or has a phd. sassan: i think so. the other point is also the new york fed position which is very important. note is that to the board of directors of the new york fed is very liberal and there is -- the c
the point is that the pass-through to the llc's is very important and that has a very real impact. you don't want to hit the real estate markets. treatment whether it is for real estate or other kinds of llcs is a significant text or component of the structure cash tax structure -- tax structure. shery: who do you think will get paired up with jay powell as vice-chairman? sassan: that is a good question. we have not written on this yet, so i cannot get in front of our clients. i will be happy...
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Dec 15, 2017
12/17
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so really llc is coming down the pike. llc is coming down the pike. my number one advisor from produce said, can you find something positive -- purdue said, can you find something positive? i cannot. kevin: i have got my eyes on marco rubio, susan collins, and jeff flake, the holdouts. marco rubio saying they have to do something with the family tax credit because he does not think this tax bill is going to do enough. .here are four holdouts republicans can only afford to lose two. tom: jeff flake was on american airlines flight 640 last night. twitter was following the senator from arizona because they wanted him held hostage at the airport by people against this legislation. why is jeff flake for this legislation? kevin: in this sense, and according to my reporting, he is still holding out where he is going to go. there are a ton of republicans for this who argue they have to get this done to have a policy victory. i have spoken with several republican and democratic strategists who are saying the same things. remember obamacare, remember the afford
so really llc is coming down the pike. llc is coming down the pike. my number one advisor from produce said, can you find something positive -- purdue said, can you find something positive? i cannot. kevin: i have got my eyes on marco rubio, susan collins, and jeff flake, the holdouts. marco rubio saying they have to do something with the family tax credit because he does not think this tax bill is going to do enough. .here are four holdouts republicans can only afford to lose two. tom: jeff...
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Dec 27, 2017
12/17
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debating whether to keep private equity firm and take it manage of the lower tax ,ates or conferred to an llc giving it access to mutual funds. peggy collins is the team leader for bloomberg news and she is here with me. have they said anything? earlier this month they said they were looking at it. it is very complicated. to do the calculation, essentially there is public we traded partnerships. these are not only publicly traded privately held companies. their income passes through and is taxed at individual income rates. , theire corporations taxed -- they are taxed at the corporate rate. you have pass-throughs being given a break. they can take a 20% deduction. then you have corporations at the corporate tax level that drops to 21%. now a lot of the pass-throughs are starting to do the numbers and say it could be better for to a corporation, take advantage of that lower tax rate and this is the big factor, be able to include a lot of index funds. that enables private equity firms to get more exposure kcluding mutual funds and 401 plans. shery: those had stayed away because of this. >> pass
debating whether to keep private equity firm and take it manage of the lower tax ,ates or conferred to an llc giving it access to mutual funds. peggy collins is the team leader for bloomberg news and she is here with me. have they said anything? earlier this month they said they were looking at it. it is very complicated. to do the calculation, essentially there is public we traded partnerships. these are not only publicly traded privately held companies. their income passes through and is...
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Dec 28, 2017
12/17
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hange doing business laura: the partnerships, llcs, s corporations. ,ut in the business community folks are saying we don't want to be a c corporation. once you put them in, partnership skip to 37%. there is still a big discrepancy there. david: congress likes to pass laws and they don't look at what it takes to enforce them. this sounds pretty compensated to me. are they going to appropriate enough money for the iris to answer questions and process this? not just with corporations. as well as enforcing these rules and audit. republicans are not really incentivized or desire the money. i never forgot about that. capitol hill reporter for bloomberg tax. taylor riggs is here with the latest. green one see mostly the screen here today. small caps benefiting from tax reform up about .2%. there is an individual mover that's driving this. the official numbers, the guidance has them a lot lower than this estimate. there are a few things going on here, almost 3%. i stand corrected. teaming up with india. netflix will message users. asking if they want to show
hange doing business laura: the partnerships, llcs, s corporations. ,ut in the business community folks are saying we don't want to be a c corporation. once you put them in, partnership skip to 37%. there is still a big discrepancy there. david: congress likes to pass laws and they don't look at what it takes to enforce them. this sounds pretty compensated to me. are they going to appropriate enough money for the iris to answer questions and process this? not just with corporations. as well as...
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Dec 21, 2017
12/17
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ron star llc reportedly never deliver the emergency tarps and emergency sheathing needed to cover thousands of puerto rican homes damaged by the storm's winds. global news, 24 hours a day, powered by over 2700 journalists and analysts in over 120 countries. i am mark crumpton, this is bloomberg. julie: tax overhaul will now be the law of the land so we can move on to what comes next both in implementing the changes and other issues that congress has in front of it. to help us start to sort it out, we have libby cantrill, vice president head of public policy at pimco. we were talking in the last block about the government shutdown. this is an issue where by necessity we are going to have to see some level of bipartisanship. what do you think will be the outcome of it besides just keeping the lights on? libby: the most eminent resolution is going to -- going to be to kick the can down the road. we will probably see a short-term cr until january 19 or 20th. then comes all of these issues that you alluded to. daca, the health care issue and the spending cap to your point earlier, you need 60 vo
ron star llc reportedly never deliver the emergency tarps and emergency sheathing needed to cover thousands of puerto rican homes damaged by the storm's winds. global news, 24 hours a day, powered by over 2700 journalists and analysts in over 120 countries. i am mark crumpton, this is bloomberg. julie: tax overhaul will now be the law of the land so we can move on to what comes next both in implementing the changes and other issues that congress has in front of it. to help us start to sort it...
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Dec 21, 2017
12/17
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he said he would look into why a bronze star llc never delivered the emergency tarps and plastic sheeting as promised. the supplies were needed to cover homes damaged by the storm's wind. i'm alisa parenti. this is bloomberg test after 5:30 p.m. here in washington. it is already the weekend. 6:30 in hong kong. we are joined by sophie with a look at the markets. sophie: already the weekend we are gearing up for a happier friday as we close out the penultimate week of 2017. investors react to the latest u.s. gdp figures. moving to the board to check on the yen, which is sticking bitcoin looking set to snap a three base slide and we are watching copper. kong -- up next more with "bloomberg technology." ♪ our top story, stepping down. the transition and a 17 career -- eric schmidt is stepping down as technical advisor to alphabet. investors large and small are determining how much technology will in florence the market. the company has made strides such as ai and voice recognition to improve the banking experience for its customers. moynihan sat down with us in an exclusive interview and ta
he said he would look into why a bronze star llc never delivered the emergency tarps and plastic sheeting as promised. the supplies were needed to cover homes damaged by the storm's wind. i'm alisa parenti. this is bloomberg test after 5:30 p.m. here in washington. it is already the weekend. 6:30 in hong kong. we are joined by sophie with a look at the markets. sophie: already the weekend we are gearing up for a happier friday as we close out the penultimate week of 2017. investors react to the...
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Dec 21, 2017
12/17
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llc never delivered the tarps that were needed to cover puerto rican homes. global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm mark crumpton, this is bloomberg. let's get a recap of today's market action. a little bit of a rebound in u.s. stocks. they broke a two day losing streak. congress passed a tax bill yesterday. 2/10 of 1%.gaining julia: what'd you miss? only four days until christmas. holiday shopping is in full swing. but not for all the right reasons. forf industry analyst retail at the npd group. what are the not good reasons? are buying a lot of products, but it is either on sale, so margins are stressed. the other not great reason is that people have not entered into the full-court press for shopping for gifts. they are just now. it was a late start for gift shopping. scarlet: what's the difference between the way people spend when they buy for themselves? marshal: buying for yourself is on sale and only on sale. the other side of that is you don't tend to be as impulsive when you are b
llc never delivered the tarps that were needed to cover puerto rican homes. global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm mark crumpton, this is bloomberg. let's get a recap of today's market action. a little bit of a rebound in u.s. stocks. they broke a two day losing streak. congress passed a tax bill yesterday. 2/10 of 1%.gaining julia: what'd you miss? only four days until christmas. holiday shopping is in full swing. but not...
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Dec 27, 2017
12/17
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when you wind up having the tax overhaul, do you want to become versus an llc to attract investors but your taxes go up? joe: it is fascinating. all these companies that are public traded are the same, but because of the different tax treatment to get, as our reporting shows, it is complicated for funds because you get the k-1 filing. it is an interesting dilemma. deeply ironic, because this is supposed to simplify taxes. you do not want to change people's behavior for no good reason. there is no difference in the economic affect. alix: but if you are an eye and isn't that rate 40%. david: they -- joe: it is going to be really funny, because this sort of broad philosophical outline of the tax reform, republicans have been pushing it for so long, but there are all these details we will not know about the ramifications of for a long time . lawyers will be mulling through this stuff. all kinds of weird treatment. none of us have any clue of what kind of distortions it will make. alix: the juicy topic of the day, how the world's richest people got a lot richer. the world's richest add $1 t
when you wind up having the tax overhaul, do you want to become versus an llc to attract investors but your taxes go up? joe: it is fascinating. all these companies that are public traded are the same, but because of the different tax treatment to get, as our reporting shows, it is complicated for funds because you get the k-1 filing. it is an interesting dilemma. deeply ironic, because this is supposed to simplify taxes. you do not want to change people's behavior for no good reason. there is...
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Dec 18, 2017
12/17
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very wealthy people who make money off of llc's and real or ship will do all right. >> we have seen so much readership and interest in the tax bill because it is so complicated. this flies in over the weekend really where people start to notice -- and this is around the pass-through provisions and corporations. it's pretty complicated and i think people are trying to dig in. in part, you saw from the headline, because it looks like president trump and potentially jared kushner and other people in the government as well as here on wall street would get a pretty big benefit from this. >> isn't it true that when you ask the leadership of republican senators, they say we have no idea, we don't know how it got in there. david: they have no clue, just popped up. >> if that is true, who is drafting this bill and that leaves all sorts of questions about the rest of the bill. second of all -- is there some but he going in at night -- david: i think some lobbyist is in line for a big paycheck here. somebody has done a heck of a job. jason: part of the response the reporters got was we will get b
very wealthy people who make money off of llc's and real or ship will do all right. >> we have seen so much readership and interest in the tax bill because it is so complicated. this flies in over the weekend really where people start to notice -- and this is around the pass-through provisions and corporations. it's pretty complicated and i think people are trying to dig in. in part, you saw from the headline, because it looks like president trump and potentially jared kushner and other...
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Dec 7, 2017
12/17
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at escort, not an llc. >> whatever will get you down to 22% you'll be. you have someone working on it. >>> then there's this, everyday it's unbelievable. bitcoin crossing the $14,000 mark that's less than 24 hours when it crossed the $12,000 mark and it's already traded above $15,000 and that's happened only along some platforms. >> a half hour ago it was $14,800. so you're talking about -- >> it's volatile. >> incredible swings every ten minutes. >> yes >>> joining us is brian kelly, founder of brian kelly capital and a "fast money" contributor he's the author of "the bitcoin bang" and specializes in additional currencies and crypto currencies what do you think? >> as much of a fan of bitcoin as i am, this is a speculative frenzy you mentioned that some of these exchanges are trading above $15,000. so look at coin base in particular and that's the retail onramp raiding at 5% to bit stamp which tend to be the more institutional ones it tells me you're seeing a speculative retail frenzy. >> is there liquidity in the market if i buy and want to get out, ca
at escort, not an llc. >> whatever will get you down to 22% you'll be. you have someone working on it. >>> then there's this, everyday it's unbelievable. bitcoin crossing the $14,000 mark that's less than 24 hours when it crossed the $12,000 mark and it's already traded above $15,000 and that's happened only along some platforms. >> a half hour ago it was $14,800. so you're talking about -- >> it's volatile. >> incredible swings every ten minutes. >> yes...
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Dec 1, 2017
12/17
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i'm an llc i need some health here. i work in new york and live in connecticut part time. >> i'm fine with any of that stuff. i don't want safeguards. i want lower taxes and lower tax rates, okay? there's one i missed here, i wanted to put in -- >> on the corporate side >> let me just see, carried interest backdoor cap gains we talked about that let me just say the joint tax committee came up with a growth impact of less than 1% -- >> cumulative. yes. over ten years. >> less than 1% per year that's silly >> weper year. >> that's silly. that's silly i want to say also as of the vote we're gong to see this afternoon and this evening, the corporate tax of 20% survived. there was a goofy plan last night, we were all on the phone with senators and anotheach oth >> because of senator corker effectively. >> corporate tax of 20% the first year then so-called ladder it up so you're cutting it then you're raising it. that's utter nonsense. that's gone. that's gone. >> it sounds like his support is then gone for this bill. do you
i'm an llc i need some health here. i work in new york and live in connecticut part time. >> i'm fine with any of that stuff. i don't want safeguards. i want lower taxes and lower tax rates, okay? there's one i missed here, i wanted to put in -- >> on the corporate side >> let me just see, carried interest backdoor cap gains we talked about that let me just say the joint tax committee came up with a growth impact of less than 1% -- >> cumulative. yes. over ten years....
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Dec 8, 2017
12/17
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if i'm an llc, can i still say as an llc or do i have to become a limited structure for my business would be a current loop around a loophole. but it does create a shuift in money. people will figure it out. the clients i've been talking to are saying tell me what this bill is going to look like do i have to move to florida people will shift. i think ron's on point >> yeah. michael and ron, good stuff. i think we can all quote the counting crows, it's been a long december but there's reason to believe maybe this year will be better than the last thank you very much. >> how about that? >> can't remember the last thing that you said while you were talking -- >> leaving days go by so fast you're welcome >>> the first bitcoin futures market goes live on sunday and bitcoin is falling ahead of that but futures help legitimatize bitcoins in the minds of the doubters bob pisani has the answer to that question. >> well, steve, it may not make it more respectable, but it's a step toward and certainly a big step towards more regulation and more transparency. and that's why this is a good thing overa
if i'm an llc, can i still say as an llc or do i have to become a limited structure for my business would be a current loop around a loophole. but it does create a shuift in money. people will figure it out. the clients i've been talking to are saying tell me what this bill is going to look like do i have to move to florida people will shift. i think ron's on point >> yeah. michael and ron, good stuff. i think we can all quote the counting crows, it's been a long december but there's...
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Dec 13, 2017
12/17
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you might see a rush of llc owners to convert to c corps >> 200,000, it's still a significant wage >> gross gross. not net. >> that depends on where you live if you live in new york city, l.a., boston, chicago, that's a middle class wage. >> absolutely. if you're losing those deductions, you could see a net increase in taxes. >> i'm not sure what she will say about this it's stimulative for capital spending for a year. you get the immediate expensing of purchasing new capital, but at the end of the day, this is unlike other periods where taxes were lower, government spending was going up, if you have the fed monetary policy fighting fiscal policy all next year, the fed will increase the pace of interest rates >> do you think there will be an impact on the tax plan and politics will we see an impact in 2018? >> the economy is in pretty good shape if there is a benefit f corporations start spending more money and hiring more people, the question is will they hire more people or invest in labor saving devices, that's an open question the stock market may continue to go up if there's a bi
you might see a rush of llc owners to convert to c corps >> 200,000, it's still a significant wage >> gross gross. not net. >> that depends on where you live if you live in new york city, l.a., boston, chicago, that's a middle class wage. >> absolutely. if you're losing those deductions, you could see a net increase in taxes. >> i'm not sure what she will say about this it's stimulative for capital spending for a year. you get the immediate expensing of purchasing...
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Dec 4, 2017
12/17
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they're going to see cuts in their taxes from 35 to 20% pass through entities like llcs and partnerships see some benefits. >> this is about helping u.s. versus non-u.s. business. >> domestic businesses will be helped most. the question is a bit open ended still. >> then what about the idea of there being draw backs we've heard from a number of economists have said this plan is not going to be the magic bullet that the republicans have proven it might be what are the potential down sides of this bill >> sure. we saw last week the joint committee said this will raise the deficit up to $1 trillion. this is not great news they tried to make some work arounds last week in the late hours including maintaining the alternative minimum tax. the bigger issue i think we're looking at is how this will filter through all income brackets they suggest that some will see cuts in their taxes. the senate plan sun sets that in 2025 at which point an increasing number of individuals will see their taxes actually increase. >> it sounds like the joint committee on taxation worked incredibly hard to get this
they're going to see cuts in their taxes from 35 to 20% pass through entities like llcs and partnerships see some benefits. >> this is about helping u.s. versus non-u.s. business. >> domestic businesses will be helped most. the question is a bit open ended still. >> then what about the idea of there being draw backs we've heard from a number of economists have said this plan is not going to be the magic bullet that the republicans have proven it might be what are the potential...
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Dec 25, 2017
12/17
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mike: we just set up the llc. kathleen: it was a mess from the beginning. lemonis: every restaurant had its own look and feel. and there was zero consistency for the customer. mike: i'm more proud of this than i've ever been proud of anything. lemonis: you shouldn't be proud of this right now. it's a disaster. the company's name was in contention. mike: there was a company in california that trademarked "my big fat greek." lemonis: the menu was all over the place. i was gonna take a trip to greece this summer, and i'm looking for tater tots, cheese sticks, cheddar balls. and hardly any of their food was fresh. my aunts and uncles, they're not getting spanakopita out of the freezer. they're actually terrible. all of this had infuriated the franchisees. they felt like mike had sold them a bill of goods and then left them high and dry. woman: we have yet to make money. the only help we ever got from them was on the first of the month, they came and picked up their royalty check. man: i've lost respect for mike as an individual. lemonis: i had major reservation
mike: we just set up the llc. kathleen: it was a mess from the beginning. lemonis: every restaurant had its own look and feel. and there was zero consistency for the customer. mike: i'm more proud of this than i've ever been proud of anything. lemonis: you shouldn't be proud of this right now. it's a disaster. the company's name was in contention. mike: there was a company in california that trademarked "my big fat greek." lemonis: the menu was all over the place. i was gonna take a...
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Dec 20, 2017
12/17
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headphones. for credit secrets, sponsored by info up, llc. the product endorsers who appear have been compensated for their travel and lodging costs. all of the endorsers are actual enthusiastic and successful users of the credit secrets program. (warm music) - hi, i'm larry king. you know, you could be, through no fault of your own,
headphones. for credit secrets, sponsored by info up, llc. the product endorsers who appear have been compensated for their travel and lodging costs. all of the endorsers are actual enthusiastic and successful users of the credit secrets program. (warm music) - hi, i'm larry king. you know, you could be, through no fault of your own,
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Dec 13, 2017
12/17
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>> i hate the definition i do have my own llc, but i don't qualify. personal services doesn't qualify for the pass through >> there's a lot of -- >> i like the bill, by the way, despite the -- >> i know. same way toomey yesterday, we were -- i was pointing out other things that a reagan tax bill, the idea would have been you leave as much of the private sector as you can, and just treated better there. capital works better you cut expenses if you are worried about deficits and what the government is end and ispending a lot of people in new york, new jersey, connecticut, california, and elsewhere, taxes are going up 10%, 15%. he goes i hear you, joe. but you're an outliar. he called me an outlier. i want low corporate tax rates i can see for the greater good we might get to 3% or 4% gdp more consistently. that will cause wage gains we'll get more jobs. it will help the economy >> i think it's going to help -- >>ing no, but think about the -- in terms of who the percentage -- who is going to truly win, says shareholders are going to win >> certainly tha
>> i hate the definition i do have my own llc, but i don't qualify. personal services doesn't qualify for the pass through >> there's a lot of -- >> i like the bill, by the way, despite the -- >> i know. same way toomey yesterday, we were -- i was pointing out other things that a reagan tax bill, the idea would have been you leave as much of the private sector as you can, and just treated better there. capital works better you cut expenses if you are worried about...
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Dec 15, 2017
12/17
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how will it work >> well, it does lower rates if you're an llc, you pay your profits based on your personal tax rate so bringing it down is good but it is not enough so we've created this business income tax that is set at 20%. i think it is very competitive one of your guests earlier talked about the chaels for certain service related businesses and i share that view service related businesses do have capital expenditures. they need to retain earnings and they should get the lower rate i think the combination of faster expensing on equipment. this lower rate for many of our businesses across the board. they will be better off taxwise. >> you mentioned rising interest rates. most banks would like the see the yield cush steepen so they could make more money what they lend out versus what they pay for deposits are you convinced they'll go up? when we look at what the federal reserve is thinking about, what this tax bill could do to gdp. it doesn't seal like much. more for interest rates. >> i think the unwinding of this unprecedented balance sheet will have an upward pressure on rates. plus t
how will it work >> well, it does lower rates if you're an llc, you pay your profits based on your personal tax rate so bringing it down is good but it is not enough so we've created this business income tax that is set at 20%. i think it is very competitive one of your guests earlier talked about the chaels for certain service related businesses and i share that view service related businesses do have capital expenditures. they need to retain earnings and they should get the lower rate i...
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Dec 19, 2017
12/17
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income that had gone on the individual side, into the business side >> is there going to be a frank llc next year? >> i would like that but i think the corporate side is going -- and i think we're going to see a lot of uncertainty on the real estate side >> yeah. >> in blue states. not that it's going to hurt the market, we just don't know initially. first quarter is going to be soft. >> as we go to break, why don't we hit the market, very quickly? market not reacting a lot but we've had this huge move upwards, of course, ahead of the vote the dow is down .10%. the question now, what is going to happen? maybe the most interesting move of the day, tyler, you pointed this out, ten-year bonyid eld up maybe a sign of economic growth. short break. we're back with more "power lunch" after this. hey! yeah!? i switched to geico and got more! more savings on car insurance!? they helped with homeowners, too! ok! plus motorcycle, boat and rv insurance! geico's got you covered! like a blanket! houston? you seeing this? geico. expect great savings and a whole lot more. geico. ♪ let out your inner
income that had gone on the individual side, into the business side >> is there going to be a frank llc next year? >> i would like that but i think the corporate side is going -- and i think we're going to see a lot of uncertainty on the real estate side >> yeah. >> in blue states. not that it's going to hurt the market, we just don't know initially. first quarter is going to be soft. >> as we go to break, why don't we hit the market, very quickly? market not...
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Dec 26, 2017
12/17
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incentive to incorporate as a passthrough, though that's there, and i'm looking forward to jimmy bitcoin llc. it's the incentive to incorporate as a c-corp, as a corporation. there you're talking about, you know, it used to be you wanted it to be an s-corporation, now you want to be a c-corporate because you want to be the 21% rate the other side of the argument is because jimmy is right that the economy is going to be strong in 2018, that's going to be a revenue booster but to the extent that we can figure out what's going on with the tax cut and revenues, i think the trillion dollar deficit is going to be larger. >> i agree with what you're saying, the perception of how well the economy is doing may be great by the time we're, you know, thick into the midterms. do you believe or does it matter that the president's personal popularity is still so low how much of a headwind is that against his policies >> well, we're going to find out, but we do have at least one other data point, which is the 2000 election, which we just came off an amazing boom markets going crazy. economy growing 4%, 5% a
incentive to incorporate as a passthrough, though that's there, and i'm looking forward to jimmy bitcoin llc. it's the incentive to incorporate as a c-corp, as a corporation. there you're talking about, you know, it used to be you wanted it to be an s-corporation, now you want to be a c-corporate because you want to be the 21% rate the other side of the argument is because jimmy is right that the economy is going to be strong in 2018, that's going to be a revenue booster but to the extent that...
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Dec 29, 2017
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you're flirting or interested with the self-employment, the c-corp, you know, the partnership, the llc, it gets extremely complicated in a hurry. and i suspect that there are going to be many, many, many litigated cases about who is or isn't qualifying for this. and that's going to really tax the irs resources. but we'll see. we'll see down the road, but this is one of the most complicated areas and one where zillions of people are going to try -- why not you want to try to get into the lower bracket. >> without a doubt to the larger point about the economies of states such as california and new york, i think governor cuomo would assert this is the case, though we don't know do you think their economies are going to suffer as a result of the higher tax burden there? particularly given what might be some migration of very high earners to lower tax states and therefore the loss of the revenue? >> modestly, maybe i mean, the fact of the matter is in terms of absolute numbers. these superrich hedge fund people, first, many of them i know are already not living in new york city more than ha
you're flirting or interested with the self-employment, the c-corp, you know, the partnership, the llc, it gets extremely complicated in a hurry. and i suspect that there are going to be many, many, many litigated cases about who is or isn't qualifying for this. and that's going to really tax the irs resources. but we'll see. we'll see down the road, but this is one of the most complicated areas and one where zillions of people are going to try -- why not you want to try to get into the lower...
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Dec 18, 2017
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given there was a lot of uproar about the change having to do with investors in llcs and real estate, he being one of them benefitting, said in a letter that came out last night, he had no idea it was in the legislation until he reread it after he was called by reporters. because corker of course also changing his vote originally being one of those few deficit hawks you just mentioned. >> yes now, let's talk about the media for a second i'm going to say something that is -- i mean it neutrally but if it were another president who got this through, i think it would say, how about the power trump didn't get the democratic votes but did coral a lot of votes that we had thought wouldn't play ball but somebody wanted to get -- they wanted to get something done, david. i think they did not want to go into the next year election with a do nothing congress and president trump did not need to go to capitol hill i think that they are all -- the republicans turned out to be remarkably pro growth and that is something that we had not expected and i think that both you and i felt there were so man
given there was a lot of uproar about the change having to do with investors in llcs and real estate, he being one of them benefitting, said in a letter that came out last night, he had no idea it was in the legislation until he reread it after he was called by reporters. because corker of course also changing his vote originally being one of those few deficit hawks you just mentioned. >> yes now, let's talk about the media for a second i'm going to say something that is -- i mean it...
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Dec 22, 2017
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company, nbc sports, sold a bunch of wwe stock to fund a separate entity called alpha entertainment llc the filing says alpha will explore investment opportunities including professional football and alpha applied for five trademarks related to the xfl on december 16th. it also, guys, trademarked urfl. i don't know what that means, but is this league coming back should the nfl be worried? >> those should be two different questions i think. even if it comes back, i'm still not sure nfl should be worried i don't know if the xfl is the extreme fun league, the nfl is the no fun league. i don't know i don't think the world is sitting there saying i want more football, but of a different type, with lesser players. >> evan, i want to hear -- i have something to say about this i want to hear you first. >> i watch probably as much football as the average american, which is to say, too much i can't imagine there being a lot of consumer demand then, again, bitcoin exists. what do i know >> you can tell me -- i think the xfl already won. the nfl hasturned into it. i tried to watch it this year. the
company, nbc sports, sold a bunch of wwe stock to fund a separate entity called alpha entertainment llc the filing says alpha will explore investment opportunities including professional football and alpha applied for five trademarks related to the xfl on december 16th. it also, guys, trademarked urfl. i don't know what that means, but is this league coming back should the nfl be worried? >> those should be two different questions i think. even if it comes back, i'm still not sure nfl...
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Dec 21, 2017
12/17
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if you have rental income, if you have a rental home, put that in llc not only does that protect you from creditors, but then also you get some other advantages. >> say that again about the prepaying your taxes on a state level. it disallows the income tax but does it disallow the property tax? prepayment >> that depends on your municipali municipality >> it did anyway, right? >> right a change on the tax bill or not, depended on your individual municipali municipality does the tax bill allow it if your municipality does >> property taxes, yes, state income taxes, no unless you're paying quarterly taxes and pay it before december 31st >> all right ivory, by the way, anything people should do, like, literalliteral ly in the next three to five business days before the end of the year >> pray. >> well, yeah -- yeah. you should always pray, but if you know you're not going to be able to itemize next year, you may want to prepay some of the childhood deductions this year so there are some things you can do >> thank you for taking time away from your phone which i'm sure is ringing off the
if you have rental income, if you have a rental home, put that in llc not only does that protect you from creditors, but then also you get some other advantages. >> say that again about the prepaying your taxes on a state level. it disallows the income tax but does it disallow the property tax? prepayment >> that depends on your municipali municipality >> it did anyway, right? >> right a change on the tax bill or not, depended on your individual municipali municipality...
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Dec 12, 2017
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or llc or something else, doesn't that strike you as wrong? >> we have guardrails that will prevent that in a variety of ways it's not the goal to allow professional services folks who are lawyers or accountants or consultants in a company to just incorporate themselves and get a big discount on their personal wages. the taxes, i should say. on their personal wages. >> what -- >> i think -- well, for one, professional services fifrmz do not qualify for this -- the pass-through discount. that's been the case in the house and the senate bill. >> i hope there are lots of new business start-ups, but generally new organic growth in the economy, i don't think you're going to see this migration. >> after all the rhetoric in the election, why the hall pass on carried interest >> well, so, first of all, we make one change in both the house and the senate bill, which is a longer holding period in order to qualify for the capital gains treatment. my own view is -- >> one year. >> no. goes out to three years. >> if i partner up with a great chef and he wo
or llc or something else, doesn't that strike you as wrong? >> we have guardrails that will prevent that in a variety of ways it's not the goal to allow professional services folks who are lawyers or accountants or consultants in a company to just incorporate themselves and get a big discount on their personal wages. the taxes, i should say. on their personal wages. >> what -- >> i think -- well, for one, professional services fifrmz do not qualify for this -- the pass-through...
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Dec 21, 2017
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do for this tax thing, set up a crown trust, second to die, a reverse -- some way of setting up the llc, but put it in my wife's name. >> keep your head down today >> i don't want to make those plans now. prepay -- >> it's the shortest day of the year, also my brother's birthday happy birthday, rob. >> this is not a good day for me to start the tax planning. >> you're taking the advice very well >> we have to move on. oh, no >> yes >> we finished this, didn't we you have more? >> i wanted to add one thing we got an e-mail, which i will just say from somebody who knows, that apparently when it comes to this at&t situation, the 200,000 employees who got the $1,000 will get an additional $1,000. >> so it's the 20,000 that the contract union that they got but then it was another 180,000. i didn't realize it was those 20,000 who will also get an additional thousand. >> cnbc and -- this is from dotcom, even cnbc had an article saying this is just the beginning of companies doing these things >> i hope this is very good. >> i don't believe you >> the idea that people are coming out with a pres
do for this tax thing, set up a crown trust, second to die, a reverse -- some way of setting up the llc, but put it in my wife's name. >> keep your head down today >> i don't want to make those plans now. prepay -- >> it's the shortest day of the year, also my brother's birthday happy birthday, rob. >> this is not a good day for me to start the tax planning. >> you're taking the advice very well >> we have to move on. oh, no >> yes >> we finished...
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Dec 19, 2017
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he made $7 million -- up to $7 million last year on those kinds of real estate llcs. he voted against the ridge 23458 senate bill which restricted tax cuts on llcs to only those that basically pay good wages. he votes against that bill, then they add the provision in allowing someone like him to get a tax cut on that income and what do you know, suddenly he flips his vote and says he's going to vote for the bill. that's what happened. >> senator corker pushed back on your initial reporting, suggesting his yes vote was tied to this provision. take a listen. >> i have nothing whatsoever to do with any provision whatsoever in this bill. and, you know, the people who are the tax writers have said that. so, look, it's -- and, you know, obviously it's sort of assassination, if you will, but it's not just true. >> he's saying he had nothing to do with the provision and the people who were writing the tax provisions have said that he had nothing to do with it. it's just not true. your response? >> well, i mean, we don't know whether he asked for something or not. he specifica
he made $7 million -- up to $7 million last year on those kinds of real estate llcs. he voted against the ridge 23458 senate bill which restricted tax cuts on llcs to only those that basically pay good wages. he votes against that bill, then they add the provision in allowing someone like him to get a tax cut on that income and what do you know, suddenly he flips his vote and says he's going to vote for the bill. that's what happened. >> senator corker pushed back on your initial...
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Dec 19, 2017
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basically companies like llcs, business entities, pass on their income to the individual side and pay it there. senate and house republicans have made it clear they want a significant tax cut for those entities but took different approaches. here's why senator corker's name started to come up. the senate provisions did not include provisions that would help real estate firms, base kri basically active capital investment, didn't benefit a lot from the senate approach. the house approach did. now, the senate conference report took the baseline of the senate provision but they added in the capital investment approach from the house side of things so it made it look like anybody that's heavily involved in real estate or real estate llcs like senator corker or perhaps president trump or perhaps jared kushner would benefit mightily from this tax cut there. i can tell you, john, from talking to sources and aides throughout this process and senator corker, orrin hatch, finance chairman have said he had nothing to do with this provision. he may benefit from it. this isn't what got him to yes.
basically companies like llcs, business entities, pass on their income to the individual side and pay it there. senate and house republicans have made it clear they want a significant tax cut for those entities but took different approaches. here's why senator corker's name started to come up. the senate provisions did not include provisions that would help real estate firms, base kri basically active capital investment, didn't benefit a lot from the senate approach. the house approach did....
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Dec 27, 2017
12/17
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we helped with his llc, contracts, and some other stuff that's part of running a business. so frank can focus on the beat. you hear that? this is frank's record shop. and this is where life meets legal. or a little internet machine? it makes you wonder: shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. so all you pay for is data. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit, or go to xfinitymobile.com. >>> some extreme winter weather is slamming parts of the country. eerie, pennsylvania, 53 inches of snow in just two days shattering the highest snowfall two day record in the united states. allison, are we going to see anything like that for the rest of this week? >> yes, because the snow is still falling and the temperatures are going to get colder. eerie airport, 62 inches. new york, 32 inches. this is an incredible amount of snow. but you also have to keep in m
we helped with his llc, contracts, and some other stuff that's part of running a business. so frank can focus on the beat. you hear that? this is frank's record shop. and this is where life meets legal. or a little internet machine? it makes you wonder: shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. so all you pay for is data. see how much you can save. choose by the gig...
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Dec 1, 2017
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and then corporate shells, like pass throughs, llcs, you know what these are. the plan cuts the tax rate on those types of entities, so trump will stand to gain. then weakening the estate taxes. the house version matches the present but calls for an all-out repeal of the estate tax by 2024. both bills keep the steppup rule allowing them to step up the cost after the death of a family, meaning they have less gain and less taxes to pay on. another tough fact. this plan is what it is. you look at the numbers. it's not about spin. we can't be sure how the president is going to be affected. why? because unlike any other president since nixon he has not released any tax returns, and right now it appears that decision, as we suspect, you know, is to hide from unfavorable facts. that's what we know. that's what we know about the plan. let's discuss. joining us is republican congressman, rhonda san tuesday of florida. >> good morning, chris. >> you heard what we laid out about the president. do we have it right or wrong? >> it's hard to know because he has complicated f
and then corporate shells, like pass throughs, llcs, you know what these are. the plan cuts the tax rate on those types of entities, so trump will stand to gain. then weakening the estate taxes. the house version matches the present but calls for an all-out repeal of the estate tax by 2024. both bills keep the steppup rule allowing them to step up the cost after the death of a family, meaning they have less gain and less taxes to pay on. another tough fact. this plan is what it is. you look at...
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Dec 28, 2017
12/17
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she means we helped with her llc, trademark, and a lot of other legal stuff that's a part of running a business. so laura can get back to the dogs. would you sit still? this is laura's mobile dog grooming palace and this is where life meets legal. >>> we have all heard the old adage that every vote counts. for our next guest in the virginia district sleaze hoping to represent that is quite literally true. after a recount it appeared she won the seat by just one vote. until one last last-minute ballot left the election in a tie. thousands voted and was almost decided by putting candidates names in film cannisters or in a hat. may still be done that way. but is delayed because simons asked the judges to reconsider the decision before the final mystery ballot. if simons wins the republicans would lose their majority and control over the house of delegates for the first time in 20 years. shelly simons joins me now. it's a remarkable story from the beginning. one sorts of twist at the end here. i'm sure there are twists to come. let's take a look at this ballot that came out of nowhere th
she means we helped with her llc, trademark, and a lot of other legal stuff that's a part of running a business. so laura can get back to the dogs. would you sit still? this is laura's mobile dog grooming palace and this is where life meets legal. >>> we have all heard the old adage that every vote counts. for our next guest in the virginia district sleaze hoping to represent that is quite literally true. after a recount it appeared she won the seat by just one vote. until one last...
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Dec 28, 2017
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we helped with his llc, contracts, and some other stuff that's part of running a business. so frank can focus on the beat. you hear that? this is frank's record shop. and this is where life meets legal. booking a flight doesn't have to be expensive. just go to priceline. it's the best place to book a flight a few days before my trip and still save up to 40%. just tap and go... for the best savings on flights, go to priceline. a trip back to the dthe doctor's office, mean just for a shot. but why go back there, when you can stay home, with neulasta onpro? strong chemo can put you at risk of serious infection, which could lead to hospitalizations. in a key study, neulasta reduced the risk of infection from 17% to 1%, a 94% decrease. applied the day of chemo, neulasta onpro is designed to deliver neulasta the next day, so you can stay home. neulasta is for certain cancer patients receiving strong chemotherapy. do not take neulasta if you're allergic to neulasta or neupogen (filgrastim). ruptured spleen, sometimes fatal as well as serious lung problems, allergic reactions, kidn
we helped with his llc, contracts, and some other stuff that's part of running a business. so frank can focus on the beat. you hear that? this is frank's record shop. and this is where life meets legal. booking a flight doesn't have to be expensive. just go to priceline. it's the best place to book a flight a few days before my trip and still save up to 40%. just tap and go... for the best savings on flights, go to priceline. a trip back to the dthe doctor's office, mean just for a shot. but...
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Dec 20, 2017
12/17
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disclosure form, the only thing we have of his, because we don't have his income taxes, he's got 400, 500 llcs, so he's a real estate mogul. so a lot of his income comes from partnership income. a lot of his income comes from capital gains. if you're getting your income from capital gains, you benefit tremendously from this at 20% rates. if he has income from ordinary income, yes, he will be paying more taxes. i don't think the president of the united states, donald trump, has any ordinary income. >> i know you want to weigh in, steven. property developers do well under this plan, don't they? is the white house underplaying just how well? >> well, they do. that's something i'm not in favor of in this bill. but i will say this. look, i've never seen donald trump's tax returns, but i'll say this, he is -- he resides in the state of new york, which has the highest taxes virtually in the country. so when we were talking about loss of state and local tax deduction, really rich people like donald trump in rich states like new york are going to pay more taxes. so it's possible his taxes go up by 4% o
disclosure form, the only thing we have of his, because we don't have his income taxes, he's got 400, 500 llcs, so he's a real estate mogul. so a lot of his income comes from partnership income. a lot of his income comes from capital gains. if you're getting your income from capital gains, you benefit tremendously from this at 20% rates. if he has income from ordinary income, yes, he will be paying more taxes. i don't think the president of the united states, donald trump, has any ordinary...
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Dec 30, 2017
12/17
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she means we helped with her llc, trademark, and a lot of other legal stuff that's a part of running a business. so laura can get back to the dogs. would you sit still? this is laura's mobile dog grooming palace and this is where life meets legal. >>> tonight, president trump says he can do whatever he wants with the justice department. making the comments during an interview with "the new york times." asked whether the hillary clinton e-mail investigation should be reopened, he said quote, i have the absolute right to do what i want with the justice department but for the purposes of hopefully i'm going to be treated fairly, i've stayed uninvolved with this particular matterer. evan perez is "outfront" tonight. what can and can't the president do with the justice department? >> well, the fact is the president controls the justice department and reports to him. he has the right to fire the deputy attorney general, the political appointees there. but when it comes to say ordering an investigation of his political opponents, which is kind of what the conversation that was part of the c
she means we helped with her llc, trademark, and a lot of other legal stuff that's a part of running a business. so laura can get back to the dogs. would you sit still? this is laura's mobile dog grooming palace and this is where life meets legal. >>> tonight, president trump says he can do whatever he wants with the justice department. making the comments during an interview with "the new york times." asked whether the hillary clinton e-mail investigation should be reopened,...
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Dec 29, 2017
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we helped with his llc, contracts, and some other stuff that's part of running a business. so frank can focus on the beat. you hear that? this is frank's record shop. and this is where life meets legal. i used to ask if you can hear me now, but i made the smart choice hi, i'm paul. and switched to sprint. these days all networks are great. so why would anyone pay twice as much with verizon. now when you switch you'll get 4 lines of unlimited for $25 a month with the 5th line free. 5 lines for only $100 a month. that's 50% off the unlimited rates of the other guys. it's the best price for unlimited. (vo) don't let a 1% difference cost you twice as much. plus, switch and get 50% off samsung's newest phones. think about what you can do for people with hearing loss, with all that extra money. visit sprintrelay.com. >>> more now from that revealing "new york times" interview. one of the tidbits president trump said the media will help him win another term. he said another reason that i'm going to win another four years is because newspapers, television, all forms of media will t
we helped with his llc, contracts, and some other stuff that's part of running a business. so frank can focus on the beat. you hear that? this is frank's record shop. and this is where life meets legal. i used to ask if you can hear me now, but i made the smart choice hi, i'm paul. and switched to sprint. these days all networks are great. so why would anyone pay twice as much with verizon. now when you switch you'll get 4 lines of unlimited for $25 a month with the 5th line free. 5 lines for...
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Dec 29, 2017
12/17
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she means we helped with her llc, trademark, and a lot of other legal stuff that's a part of running a business. so laura can get back to the dogs. would you sit still? this is laura's mobile dog grooming palace and this is where life meets legal. vof hundreds of families, he'se hmost proud of the one the heads he's kept over his own. brand vo: get paid twice as fast with quickbooks smart invoicing. quickbooks. backing you. you or joints. something for your heart... but do you take something for your brain. with an ingredient originally found in jellyfish, prevagen is the number one selling brain-health supplement in drug stores nationwide. prevagen. the name to remember. >>> new tonight, cold war of words. rex tillerson writing a "new york times" opinion piece and he writes that the u.s. and russia have a quote r poor relationship. he also writes that moscow has quote undermined the sovereignty of western nations by meddling in our election and others, but russia's foreign ministry is firing back tonight, using one of the president's favorite phrases, calling tillerson's words fake
she means we helped with her llc, trademark, and a lot of other legal stuff that's a part of running a business. so laura can get back to the dogs. would you sit still? this is laura's mobile dog grooming palace and this is where life meets legal. vof hundreds of families, he'se hmost proud of the one the heads he's kept over his own. brand vo: get paid twice as fast with quickbooks smart invoicing. quickbooks. backing you. you or joints. something for your heart... but do you take something...
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Dec 15, 2017
12/17
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these are for businesses like llcs, s-corporations, partnerships that pass through their business income on to the individual say, pay individual rates. that will be set at 20%, that credit there. that's an agreement as well they ended up reaching. overwhelm, wolf, i think it's important to put in context, this bill, the 500 pages here are the first overhaul of the u.s. tax code in more than 30 years. they will likely have an impact on every american and business as well. the sticking points, and we've seen the news alerts on marco rubio getting to yes on this bill, the child tax credit. doubled from current law from $1,000 to $2,000. the sticking point, though, was the refundability as pelkt of it. how much of that money could be used past their income tax liability? it was set at $500. as we know, that was enough to secure the vote of senator marco rubio, senator mike lee also outstanding was very happy with that change. he has not yet committed yes to the bill, but he said he's hopeful he's going to get there. there is a lot to dig through here, wolf. if you look the corporate side, t
these are for businesses like llcs, s-corporations, partnerships that pass through their business income on to the individual say, pay individual rates. that will be set at 20%, that credit there. that's an agreement as well they ended up reaching. overwhelm, wolf, i think it's important to put in context, this bill, the 500 pages here are the first overhaul of the u.s. tax code in more than 30 years. they will likely have an impact on every american and business as well. the sticking points,...
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Dec 1, 2017
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llc's that pay through the individual side. this is what they're grappling with right now. they think they can figure this out, but they have real work to do, anderson. >> phil, stick around, i want to bring in the panel. paul begala, christine quinn and mike shields. republicans are supposed to be concerned about the deficit, how big a deal is this for you? >> it's interesting to see these scores coming out, when the bush tax cuts passed, the four years after they were made into law. the government got more money. $785 million more. and the deficit went down 57%. at the end of that, the housing crisis happened. and a lot of things aren't talked about. the bush tax cut. i think the republicans in the senate need to stick to their guns about what they know about economic policy. when you take the money, you give it back to the people, you stimulate the economy, gdp goes up people get jobs, that's been proven to be true. it's something we beat democrats on over and over again. it's why the country trusts democrats over republicans on the economy right now. the senators are ge
llc's that pay through the individual side. this is what they're grappling with right now. they think they can figure this out, but they have real work to do, anderson. >> phil, stick around, i want to bring in the panel. paul begala, christine quinn and mike shields. republicans are supposed to be concerned about the deficit, how big a deal is this for you? >> it's interesting to see these scores coming out, when the bush tax cuts passed, the four years after they were made into...
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Dec 19, 2017
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it made it look like anybody who is heavily involved in real estate or real estate llcs, like senator corker or perhaps president trump or jared kushner would benefit mightily from this tax cut there. i can tell you, john, from talking to sources and aides throughout this process and senator corker, orrin hatch, finance chairman have said he had nothing to do with this provision. he may benefit from it. what did, i'm told, mitch mcconnell is working intensively with senator corker behind the scenes frying to get him on board. senator john mccain, his absence, his inability to be here for the vote, i'm told that played a role in senator corker's final decision. it wasn't any specific provision, john. >> phil mattingly, thank you so much. >>> joining me now to weigh in, david chalian. david, thank you for being with us. >> sure. >> they say that the congressional republicans and the president are desperate for a legislative win. how big of an understatement would that be? >> a big one. if they were writing a list of all of their big accomplishments, there would be nothing on it, really.
it made it look like anybody who is heavily involved in real estate or real estate llcs, like senator corker or perhaps president trump or jared kushner would benefit mightily from this tax cut there. i can tell you, john, from talking to sources and aides throughout this process and senator corker, orrin hatch, finance chairman have said he had nothing to do with this provision. he may benefit from it. what did, i'm told, mitch mcconnell is working intensively with senator corker behind the...
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Dec 25, 2017
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primarily what you are looking for our agreements that farmers have decided to make their farms an llc. limited liability corporation. many of the corporate farms you hear about our farm families grown to the size to create new organizations for their farm family. they may have two or three kids, and it allows them to have a piece of the corporations technically there. it is farm families primarily. most of american agriculture is based on families. steve: let's talk about you. your real name is george. how did you get sonny? secretary perdue: i am the third. rvin george urba purdue, iii. from a small town called bonaire, georgia. my father was george, and my grandfather was irvin. my father said he looks like sonny to me. i tried to change it in the air that is who i force and go by am. the legal name, but i never got comfortable with george purdue. steve: why the air force? secretary perdue: vietnam was boiling at that point in time. i was a patriot and believed that i should -- i saw my other peers going off to vietnam, and i believed i should do my duty in that way as well. i went
primarily what you are looking for our agreements that farmers have decided to make their farms an llc. limited liability corporation. many of the corporate farms you hear about our farm families grown to the size to create new organizations for their farm family. they may have two or three kids, and it allows them to have a piece of the corporations technically there. it is farm families primarily. most of american agriculture is based on families. steve: let's talk about you. your real name...
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Dec 15, 2017
12/17
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trump is supposed to have something like 500 llc's. hedge funds get tax breaks. .o doctors or dentists they don't get anything. guest: that is right. this is one of the guard rails a put around that pass-through tax cut. here is why. the thought is, lawyers and just fund managers -- lawyers and dentists, those are great examples of people who pay salaries today but as this tax cut goes through they will to -- turn themselves into llc is rather than take a salary. get themselves a pretty significant tax cut through that small business rate. workers wholaried shouldn't be treated as small businesses because they should be getting salaries. that is the thought behind that trade-off. someone running a real estate business, or a small manufacturer who does file as an salariedot really a professional but a business owner. it is when a treat different high earners differently. host: where is the estate tax in this bill? that the have heard estate tax will not be repealed, but the exemption level at which it will kick in will be raised. i don'
trump is supposed to have something like 500 llc's. hedge funds get tax breaks. .o doctors or dentists they don't get anything. guest: that is right. this is one of the guard rails a put around that pass-through tax cut. here is why. the thought is, lawyers and just fund managers -- lawyers and dentists, those are great examples of people who pay salaries today but as this tax cut goes through they will to -- turn themselves into llc is rather than take a salary. get themselves a pretty...
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Dec 19, 2017
12/17
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that's sole proprietorships, llc's, s ip, corporations. this is something that was done o sort of bring some level of parity to the rate cut that corporation are getting. does, soley what this proprietors, if they meet certain requirements. money you ow much make there's a different set of rules. pay tax on ve to about 80 opinion of your income. there's a 20% deduction. that at your individual rate. if you're on the higher end you'd be paying 37%. you're 22% or 24% rate. it really depends on your circumstances. but this is -- if you're under $415,000, the entire deduction is mostly available to you no matter what your business is. over that there's more restrictions. say a law firm or accounting firm, doctor's office. ou can't use the majority of this deduction unless they do something like hire a lot of workers or invest in capital expenditure. it gets complicated. hat's been one of the criticisms against it. initially republicans said we'll a 20% rate. then they thought people would, nstead of just working for c-span you may become an in
that's sole proprietorships, llc's, s ip, corporations. this is something that was done o sort of bring some level of parity to the rate cut that corporation are getting. does, soley what this proprietors, if they meet certain requirements. money you ow much make there's a different set of rules. pay tax on ve to about 80 opinion of your income. there's a 20% deduction. that at your individual rate. if you're on the higher end you'd be paying 37%. you're 22% or 24% rate. it really depends on...
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Dec 19, 2017
12/17
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. >> were the llcs a part of the regular conference or did they -- >> not that it recall. >> came afterwards. do remember all of that business before about the nebraska corn husker buyback? those were gimmicks and obviously were pointed to. my friend seemed to forget that along the way. mr. brady, you were going to say? >> the mlp provision was added in senate before it went to the floor, was voted on. that was not in conference committee. worked out between the house and senate. fully debated on the senate floor. >> now that you bring it up it does allow for 16 members of congress, both in the senate and the house, to make a ton of money, and ain't going to call no names. you know them just as well as i do. and somewhere along the line, however it got in there, it got in in wrong. and there's a whole lot of stuff, like miss pelosi said you have to pass the bill so you know what is in it? we're going to pass it tomorrow or wednesday or whenever you all vote on it, and then we still won't know what's in it but somewhere along the line more and more will trickle out and when it does, then you
. >> were the llcs a part of the regular conference or did they -- >> not that it recall. >> came afterwards. do remember all of that business before about the nebraska corn husker buyback? those were gimmicks and obviously were pointed to. my friend seemed to forget that along the way. mr. brady, you were going to say? >> the mlp provision was added in senate before it went to the floor, was voted on. that was not in conference committee. worked out between the house...
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Dec 17, 2017
12/17
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percent difference from going down from 20% to 25%, splitting that in going to sell proprietors and llcs, because we witha problem underemployment, which are part-time workers that could be converted to full-time workers by little proprietors instead of giving huge corporations the biggest break, split some of it up with some of the small businesses. like somebody else brought up, you need more time to do that. a bill like this is rush through and it was not carefully thought out. in some ways, like the affordable care act was. host: thank you. speaking in new york politics, the new york times and a look at senator kierstin gillibrand with a potential eye on 2020. -- senator's start shines as nation unites behind her cause. a photograph of the junior senator from that state. house speaker paul ryan with some speculation as to whether or not he will step down next year. that story available at politico.com. he was asked about the polling, which shows a majority of americans do not like the tax cut plan. [video clip] >> if you look at the polling done in reagan's tax reform, something like
percent difference from going down from 20% to 25%, splitting that in going to sell proprietors and llcs, because we witha problem underemployment, which are part-time workers that could be converted to full-time workers by little proprietors instead of giving huge corporations the biggest break, split some of it up with some of the small businesses. like somebody else brought up, you need more time to do that. a bill like this is rush through and it was not carefully thought out. in some ways,...
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Dec 12, 2017
12/17
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to- start with our bill and sped once a nudist deduction for llcs. this deduction will allow them to keep more of their money which will allow them to reinvest in their operations to increase wages and hire new workers. our bill also reforms current provisions within the text go there frequently lead small businesses with little cash on hand. small businesses will be able to recover the capital they've invested in things like inventory in machinery much more quickly and in certain cases, immediately. this in turn will free up capital with small businesses can use. to expand and create jobs. our legislation also includes at provision that i helped develop that with the book by accounting rules for small businesses, i should say, which will also help reduce their tax burden. this leaves more of their earnings to reinvest in their businesses and in their workers. mr. president, in addition to providing relief another thing our bill does is boost american wages is to lower a massive corporate tax rate. >> we will return to this in a bit to take you live
to- start with our bill and sped once a nudist deduction for llcs. this deduction will allow them to keep more of their money which will allow them to reinvest in their operations to increase wages and hire new workers. our bill also reforms current provisions within the text go there frequently lead small businesses with little cash on hand. small businesses will be able to recover the capital they've invested in things like inventory in machinery much more quickly and in certain cases,...
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Dec 30, 2017
12/17
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an example, pr firms that have crisis management functions, llc, global law firms, nonprofits, charities in some cases, websites all work together and have components that are designed to take down ideas that they oppose often by personally attacking the people most eloquent at expressing the ideas they oppose and what differentiates i like to say at least in of "the smear" from the truth is because there are often elements of truth within the smear, but it's purpose is rooted in annihilationsero and those who are directing the smear often hidden from the public want to remain invisible and wanted to look like there's an organic kind of grassroots effort going on when they are actually pulling the strings often in a organizing well-financed way to smear and i do or people or groups. host: can you put a dollar figure on what this industry has grown into? >> owi can't. i think it's multi- billions, but because it's not broken down that way let's essay every pr firm has a component of crisis management that falls under this category, but it's not broken down that way how much they spend on
an example, pr firms that have crisis management functions, llc, global law firms, nonprofits, charities in some cases, websites all work together and have components that are designed to take down ideas that they oppose often by personally attacking the people most eloquent at expressing the ideas they oppose and what differentiates i like to say at least in of "the smear" from the truth is because there are often elements of truth within the smear, but it's purpose is rooted in...
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Dec 13, 2017
12/17
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it implements a new deduction for the like partnerships and llcs. it allowed them to keep more their money to reinvest in operations hire new workers. the reforms current provisions that frequently leave small businesses little cash on hand. small businesses can recover capital and inventory, machinery much more quickly. this frees up capital they can use to expand and create jobs. legislation that simplifies accounting rules for small businesses to help reduce tax burden leaving more earnings to reinvest in their businesses and workers. in addition, to providing relief another thing it does to boost wages is to lower the massive corporate tax rate. the corporate tax rate is currently the highest in the industrialized world which puts the united states are businesses at a major disadvantage. reducing corporate tax rate will enable businesses to compete at a more level playing field to free up money businesses could use to create jobs and increase wages. white house counsel and advisors estimates reducing the tax rate to 20% would increase wages by $
it implements a new deduction for the like partnerships and llcs. it allowed them to keep more their money to reinvest in operations hire new workers. the reforms current provisions that frequently leave small businesses little cash on hand. small businesses can recover capital and inventory, machinery much more quickly. this frees up capital they can use to expand and create jobs. legislation that simplifies accounting rules for small businesses to help reduce tax burden leaving more earnings...
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Dec 26, 2017
12/17
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>> some are paid nonprofit groups like pr firms that have crisis management functions, llc, law firms, nonprofits they all work together but are designed to take down the ideas that they oppose to those that are the most eloquent to oppose and express those ideas so my definition is that they are often elements of truth for them to smear but, the purpose is annihilation directing the smear they wanted to look like icthere is the organic grassroots effort but it is often very well organized and well financed. >>host: can you put a dollar figure? >> i think it is around 5 billion but it isn't broken onwn that way every pr firm has a crisis of management but it isn't broken down that way but it is big money everybody knows if they have to defendr themselves they call them the omcrisis management people these are the elements of smear but also whether they are making comments on the fr people that are paid to rent the use of their names to write offense now they are orchestrated and then signed by someone the newspapers know this. >>host: we have also been hearing recently is this a krowi
>> some are paid nonprofit groups like pr firms that have crisis management functions, llc, law firms, nonprofits they all work together but are designed to take down the ideas that they oppose to those that are the most eloquent to oppose and express those ideas so my definition is that they are often elements of truth for them to smear but, the purpose is annihilation directing the smear they wanted to look like icthere is the organic grassroots effort but it is often very well...